Concorde Asset Management LLC acquired a new stake in Appian Corp (NASDAQ:APPN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,674 shares of the company’s stock, valued at approximately $1,144,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Evolution Wealth Advisors LLC acquired a new stake in Appian in the third quarter valued at approximately $25,000. Toth Financial Advisory Corp acquired a new stake in Appian in the second quarter valued at approximately $26,000. Truvestments Capital LLC grew its holdings in Appian by 1,200.0% in the second quarter. Truvestments Capital LLC now owns 546 shares of the company’s stock valued at $27,000 after purchasing an additional 504 shares during the period. Parallel Advisors LLC grew its holdings in Appian by 180.7% in the second quarter. Parallel Advisors LLC now owns 654 shares of the company’s stock valued at $33,000 after purchasing an additional 421 shares during the period. Finally, Macquarie Group Ltd. acquired a new stake in Appian in the second quarter valued at approximately $33,000. 40.75% of the stock is currently owned by institutional investors.
In other Appian news, insider Robert Charles Kramer sold 64,000 shares of Appian stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $80.02, for a total value of $5,121,280.00. Following the sale, the insider now owns 96,391 shares in the company, valued at $7,713,207.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael G. Devine sold 5,000 shares of Appian stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $48.53, for a total value of $242,650.00. In the last quarter, insiders have sold 93,000 shares of company stock worth $6,830,800. 46.80% of the stock is currently owned by company insiders.
Appian (NASDAQ:APPN) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.12) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.13. Appian had a negative return on equity of 21.85% and a negative net margin of 16.47%. The firm had revenue of $66.78 million for the quarter, compared to the consensus estimate of $61.24 million. During the same quarter last year, the business posted ($0.11) earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. On average, research analysts predict that Appian Corp will post -0.75 EPS for the current year.
Several analysts have commented on APPN shares. Truist Financial raised their price objective on Appian from $46.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, August 11th. They noted that the move was a valuation call. Berenberg Bank downgraded Appian from a “buy” rating to a “hold” rating in a research report on Thursday, October 15th. ValuEngine upgraded Appian from a “hold” rating to a “buy” rating in a research report on Tuesday, August 11th. Goldman Sachs Group raised their target price on Appian from $42.00 to $46.00 in a research report on Monday, June 29th. Finally, Morgan Stanley raised their target price on Appian from $35.00 to $38.00 and gave the company an “underweight” rating in a research report on Monday, August 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $50.78.
Appian Company Profile
Appian Corporation provides low-code software development platform that enables organizations to develop various applications in the United States and internationally. The company's platform automates the creation of forms, data flows, records, reports, and other software elements that are needed to be manually coded or configured.
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